If your bias is to short the market, Do not BUY!
As of now we completed a pattern formation which is a Bullish Cypher hence the formation of the C point of a potential Bearish Cypher. Take note that we also have a potential Big bearish Bat pattern. As you can see if price reach/breach the red dotted line which would be the A point of the Bat. The Bear Bat pattern would be invalidated hence as of the other...
We could have atleast a 1:2 RR right here. But jumping onto the LTF with trade management, there could be a potential LONG setup that could give us more than a 1:2 RR with an extend TP on the TP1 - 38.20% of the Bat Pattern.
Aggressive enter at every D completion. Conservative wait for confirmation to go LONG or SHORT on the pattern completion. Risk Reward on the TP would be atleast 1:1.
We could go long with an extended TP on the Pattern formation, but its not advisable, since we would like to enter on the pattern completion. But if you're willing to take the risk with a 1:1.5 RR its good to go long. Since we have still a valid potential cypher pattern.
Aggressive could enter price now. Conservative wait for other confirmation (i.e. candlestick pattern formation, candle higher high higher close from the previous candle, or could do some top down to a lower time frame.) We also have a bullish divergence right here.
We have a bearish AB=CD pattern as price is now inside the zone for our D completion of it which is between 0.7068 - 0.7101. As we also have a potential C point of a bullish Cypher pattern
Just like what we have on the EURGBP. We have a potential Bear Bat pattern here that is soon to complete. As price is approaching our D completion we could go LONG (not advisable) to take some few pips and there going short aggressively, if you're willing to risk with a 1:1.5 RR or wait for confirmation if you are more of a conservative type. In my case a pending...
2 cypher patterns and 1 butterfly pattern. We have extended TP if we're going to short the market but with protective SL once we reach our target 1 and 2.
We got a confluence of 113% and a 2% with a bullish shart pattern completion! We also have a demand/supply zone. There's an unused Supply right here.
We got 3 confluences of Bat (88.60% XA ret), Gartley (127.20% AB ext) and an AB=CD pattern that will also be on the 127.20%
We can go long to take some few pips but that's not advisable. But if you got reasons for entry to go LONG a good target would be on a potential Bearish Cypher Pattern and so. Good luck.
As of now we would like to wait for a pullback before going LONG. We could go SHORT but be careful. We have 3 advance pattern formation right here with there ifs.
Long. Aggressive enter at the first butterfly. Conservative again wait for confirmation.
We could go short and take some few pips until a pattern is completed for us to go LONG.
Aggressive enter price at the pattern completion. Conservative wait for further price action, candle stick pattern formation or other technical confirmation like divergence and the like.
Bear Bat Pattern: Entry: 0.7347 SL: 0.7324 (23 pips) TP1: 0.7370 (23 pips) TP2: 0.7310 (37 pips) Bull Cypher Pattern: Entry: 0.7267 SL: 0.7250 (25 pips) TP1: 0.7306 (30 pips) TP2: 0.7325 (50 pips)
2 Bearish Cypher Patterns. 1 Pattern is completed already. Setup: Entry: 117.51 - 117.85 SL: 118.44 (93 pips max) TP1:; 116.57 (93 pips) TP2: 115.98 (152 pips) TP3: 115.05 (244 pips)